Research Analyst

Job Summary

We seek to hire an experienced global generalist who can conduct bottoms-up proprietary research and develop unique qualitative insights to underwrite long term equity investments (3-5 years). We have a collaborative culture that also encourages healthy debate. This partner-track role’s research efforts will be supported by an existing junior analyst and an ample research budget. Competitive compensation and benefits are offered.

The Company

Founded in 2014, Dorsey Asset Management is a boutique registered investment advisor managing a single, concentrated, long-only, global equity strategy. Our investment universe is limited to businesses with sustainable competitive advantages, or “economic moats”. We believe that the value of competitive advantage is maximized when a business can reinvest capital at a high incremental rate of return for an extended period of time. As such, we seek to own minority stakes in businesses that have substantial opportunities for reinvestment in addition to sustainable competitive advantages. The firm manages over $1.5b for institutions, is 100% employee owned and based in Chicago.


  • Investigative journalist approach to company and sector due diligence by self-sourcing contacts, attending industry events and performing other relevant fieldwork. 20-30% travel expectation.
  • Careful written documentation of primary research and the composition of long form investment memos.
  • Recommend investments (>$3b market cap) for a 10-15 stock portfolio.
  • Commitment to following and helping to iterate a repeatable investment process.
  • Supervise and mentor both a junior analyst and an undergraduate intern.
  • Build and maintain full financial models.
  • Build and maintain relations with company management and investor relations.
  • Initial research efforts will include companies that are already in our research pipeline and maintenance research on existing holdings.
  • Work in our downtown Chicago office. There is no remote or hybrid opportunity for this position.


  • Bachelor’s degree
  • At least 8 years of relevant experience (public market, private equity or equity research)
  • Experience supervising analysts or interns is a plus.
  • Deep intellectual curiosity. Willingness to learn new business models. Able to creatively approach due diligence.
  • Integrity, humility, and a commitment to continuous self-improvement are critical attributes.
  • Experience analyzing technology-oriented businesses is a plus.
  • Idea sourcing capability is a plus.
  • Strong understanding of accounting and finance concepts.
  • Financial modeling proficiency with a discounted cash flow model.
  • Interest in working in a team capacity and engaging in collegial debates on the merits of investment ideas.
  • Strong written and oral communication skills.

No agencies please.

How to Apply

Interested applicants should email the following, with the subject line “Research Analyst Position – Firstname Lastname”. Applications must include 3 separate PDF files as attachments: 1 page resume; 1 page cover letter describing your fit for this role; and an investment memo (maximum of 2 pages text plus a maximum 2 pages charts/data).

Dorsey Asset Management is an equal opportunity employer.  We prohibit discrimination in all aspects of employment based on race, religion, color, sex, gender identity, sexual orientation, age, physical or mental disability, national origin, veteran status or any other characteristic protected by applicable law.

Successful candidates must be fully vaccinated or boosted (as applicable) against COVID-19, or willing to become fully vaccinated or boosted, by the date of hire.  Proof of vaccination and booster receipt is required.